Progressive Corporation

The Progressive Corporation is one of the biggest suppliers of auto protection in the United States. The organization additionally guarantees cruisers, water crafts, RVs and business vehicles, and gives home protection through select organizations. Dynamic has extended globally too, offering auto protection in Australia. The organization was helped to establish in 1937 by Jack Green and Joseph M. Lewis, and is headquartered in Mayfield Village, Ohio.Segments. The organization works in three sections: Personal Lines, Commercial Auto, and Other-reimbursement. The Personal Lines section composes protection for private traveler cars, bikes, water crafts, and recreational vehicles through both a free organization channel and an immediate channel. The Commercial Auto fragment composes essential obligation and physical harm protection for cars and trucks claimed by organizations basically through the free office channel. The Other-repayment portion gives proficient obligation protection to group banks, essentially executives, and officers risk protection. It additionally gives protection related administrations, basically giving strategy issuance and claims altering administrations in 25 states for Commercial Auto Insurance Procedures/Plans. In 2011, the organization was positioned 164 in the Fortune 500.

Industry information

Dynamic is one of the biggest auto safety net providers in the United States, with more than 13 million approaches in force, alongside State Farm, Allstate, GEICO, Nationwide Insurance, Farmers Insurance Group, and USAA. Dynamic basically offers its administrations through the Internet or by telephone and through free protection operators. Dynamic's Agency business offers protection through more than 30,000 autonomous protection organizations and progressiveagent.com where clients can cite their own strategies and after that contact an operators to finish the deal. In December 2009, Progressive declared it was offering auto protection in Australia. Initially called Progressive Direct, it rebranded as Progressive in 2011.

Advertising and operations

Dynamic's advertising effort is known for offering quotes of its rivals alongside its own quote. It was the first significant back up plan to offer auto arrangements through the telephone and through its site. In September 2007 Progressive started to offer Pet Injury scope, which gives scope to mutts and felines that are harmed in an accident and is incorporated at no extra cost with Collision coverage. Prompt Response Vehicles (IRVs) utilized by Progressive are uniquely changed Ford Explorers and Ford Escapes.

Advertising

"Flo", a character from the Progressive Insurance TV ads

Dynamic's TV ads highlight an excessively eager clerk named Flo (Stephanie Courtney), who clarifies the advantages of Progressive Insurance. In December 2010, the organization presented the "Ambassador," as a correlative campaign. In 2012, they presented the character "Brad", an accommodating, confident, all around coiffed man with an easygoing mien and a preposterously comic feeling of self-regard who alludes to himself in the third-individual just. In 2011, Progressive acquainted an Australian partner with Flo, named Kitty.

Products

This area needs extra references for confirmation. It would be ideal if you enhance this article by adding references to dependable sources. Unsourced material may be tested and uprooted. (August 2012)

This area contains content that is composed like a notice. It would be ideal if you enhance it by evacuating limited time content and improper outer connections, and by including broad substance composed from an unbiased perspective. (November 2013) .As indicated by a February 2011 Wall Street Journal article, Progressive has a major advantage over its adversaries in Pay As You Drive protection, a type of vehicle protection likewise blandly known as use based insurance. Progressive has seven U.S. licenses covering utilization based protection routines and frameworks, with more licenses pending. Dynamic started chipping away at the idea in the mid-1990s and keeps on refining the idea and convey it to the mass business sector.

Depiction is Progressive's Pay As You Drive, or use based protection program. Depiction is a willful markdown program where drivers can spare cash on their auto protection by offering their driving propensities to Progressive. As indicated by Progressive, Snapshot is best for individuals who drive less, in more secure routes and amid more secure times of day. Snapshot clients can roll out improvements to their checking so as to drive propensities that will prompt greater rebates their driving information and anticipated markdown on progressive.com through the span of their beginning arrangement period.

Drivers plug a gadget the measure of a carport entryway opener into the on-board analytic (OBD) port of their auto. The gadget records and sends the driving information to Progressive, and Progressive uses that data to compute the rate. Following 30 days, clients see whether they're qualified for a markdown in light of that 30-day "depiction" of their driving propensities. Toward the end of a six-month strategy period, Progressive computes the client's reestablishment markdown and clients give back the gadget to Progressive. The organization doesn't consider how quick the auto goes in spite of the fact that it takes into record how quick and as often as possible the vehicle administrator brakes. Depiction is intentional and clients can quit whenever. The client is energized to $50.00 in the event that they don't give back the depiction gadget to Progressive if they choose not to take part in the system in the wake of getting it. Preview is as of now accessible in 45 states in addition to the District of Columbia. Since protection is directed at the state level, Snapshot is as of now not accessible in Alaska, California, Hawaii, and North Carolina. Most as of late, Snapshot got to be accessible in Indiana in May 2015.

Corporate sponsorship

On December 13, 2006, the organization said profit rose 58 percent in November as the organization held a greater amount of the premiums it gathered in view of correlations to a month influenced by Hurricane Katrina claims. In January 2008, Jacobs Field in Cleveland, Ohio, home of the Cleveland Indians, was renamed Progressive Field. Dynamic marked a 16-year contract for the naming rights, and in addition sponsorship rights to end up the Official Auto Insurer of the Cleveland Indians. The understanding expenses around $3.6 million for each year. (Mayfield Village, Ohio, where the organization is based, is a suburb of Cleveland.) In March 2008, Progressive reported its title sponsorship of the Progressive Insurance Automotive X PRIZE and their subsidizing of the $10 million prize tote. The Progressive Automotive X PRIZE is a global rivalry intended to motivate another era of suitable, super fuel-effective vehicles. The opposition is interested in groups from around the globe that can outline, assemble and convey to market 100 MPGe (miles per gallon vitality comparable) vehicles. On December 14, 2010, the Gator Bowl Association declared that Progressive Insurance would turn into the title patron for the 2011 Gator Bowl school football dish diversion.

Controversies

In 2002, the organization settled with the State of Georgia in a legal claim over lessened worth cases brought by policyholders. In 2007, the organization apologized after it was uncovered they contracted private agents to penetrate a congregation amass and act like gathering individuals to gather data on defendants looking for review from the organization. Another claim was recorded by the prosecutors over the undertaking against the organization for intrusion of security and fraud.In 2009, the organization was sued for supposedly employing so as to delude policyholders wrongfully worked, unlicensed body shops to make repairs on vehicles for their customers keeping in mind the end goal to spare money. The court ruled to support Progressive on two of the tallies and the other four were dropped, pending appeal. Additionally in 2009, the organization was blamed for requesting their commercials off the air amid the show telecast of Glenn Beck on the Fox News Channel over remarks made about U.S. President Barack Obama. Progressive reacted that they never approved their promotions to be publicized amid Beck's system, and they broadcast in that timeslot because of Fox's error.

In 2012, the organization was generally reprimanded online for how it took care of the cases documented by the group of Kaitlynn Fisher. At the point when Kaitlynn Fisher, 24, was hit and executed by a driver who ran a red light in Baltimore, Progressive battled to keep away from installment due, with an approach that secured against the likelihood of a mischance with an underinsured driver. The driver was observed to be careless at trial with the Fisher family battling that Progressive gave legitimate help to the safeguard.

Fidelity & Guaranty Life

Devotion and Guaranty Life Insurance Company gives annuities and life coverage to more than 700,000 policyholders over the United States. The organization was established in 1959 and is situated in Des Moines, Iowa. It was an entirely claimed backup of Harbinger Group before an incomplete first sale of stock in 2013. In November 2015, Fidelity was sold to protection firm Anbang Insurance for an expense of around $1.57 billion.The organization was fused in 1959 under the laws of Maryland and started business in 1960. The organization was essentially shaped to compose singular disaster protection and annuity items.

Until June 1, 1995, the organization was a completely possessed auxiliary of United States Fidelity and Guaranty Company ("USF&G Company"), a Maryland-domiciled property and setback back up plan. USF&G Corporation, a Maryland-domiciled protection holding organization, was the organization's definitive controlling element.

Powerful June 1, 1995, with the endorsement of the Maryland Insurance Administration, USF&G Company announced a profit payable to USF&G Corporation comprising of the greater part of the issued and remarkable capital load of the organization. Accordingly, the organization turned into a direct, completely claimed backup of USF&G Corporation. In 1996, then-CEO Norman Blake openly talked about the likelihood of offering the life coverage organization as a feature of plan to develop the global operations of the property and loss business. By 1997, Blake told shareholders that few extensive bearers had drawn closer administration to buy the whole organization.

On January 20, 1998, St. Paul declared that it would obtain USF&G for $2.8 billion and consolidate both elements into a solitary organization. On April 24, 1998, as an aftereffect of the merger of its guardian, USF&G Corporation, with The St. Paul Companies, Inc. (St. Paul Travelers), a protection holding organization consolidated in the condition of Minnesota, the organization turned into an aberrant backup of St. Paul Companies, Inc. Viable January 1, 1999, under an arrangement of merger, with the endorsement of the Maryland Insurance Administration, the organization's definitive guardian, USF&G Corporation, converged with St. Paul Fire and Marine Insurance Company (Fire and Marine), a Minnesota partnership. As a consequence of this merger, the organization turned into a direct entirely possessed auxiliary of Fire and Marine with St. Paul as its definitive controlling substance.

On September 18, 2001, the Company was procured by Old Mutual plc ("Old Mutual"), a London based budgetary administrations organization, which was endorsed by the Maryland Insurance Administration on September 21, 2001. As an aftereffect of the obtaining, the Company turned into a direct, entirely claimed auxiliary of Old Mutual U.S. Life Holdings, Inc. ("OMUSLH"), a Delaware holding organization which is eventually claimed by Old Mutual. The recorded price tag was $635 million USD. On December 31, 2002, the Maryland Insurance Administration endorsed a rearrangement arrangement inside of the Old Mutual plc holding organization framework. Old Mutual plc made another Texas-domiciled extra security organization, Omnia Life Insurance Company, Inc., ("Omnia"), and the greater part of the exceptional basic load of the Company was added to Omnia by the Company's guardian, OMULSH. As a consequence of the revamping, the Company turned into a direct, completely claimed backup of Omnia.

Successful January 1, 2007, the organization's top managerial staff affirmed a determination to alter the organization's sanction to change its name to OM Financial Life Insurance Company. This name change was submitted and affirmed by the State of Maryland Department of Assessments and Taxation and the Administration, compelling January 1, 2007. On January 16, 2009, the Securities and Exchange Commission("SEC") issued Rule 151A asserting ordered annuities ought to be managed as securities and ought to just be sold by enrolled representatives. A claim was documented around the same time testing the SEC's capacity to direct settled filed annuities. Enactment was additionally acquainted in Congress with absolved these annuities from securities regulation. Administration of OM Financial Life Insurance effectively took part in industry resistance to the proposal.[10] On July 13, 2010, The Court of Appeals for the D.C. Circuit abandoned Rule 151A. On July 21, 2010, President Obama marked HR 4173 (Dodd-Frank Wall Street Reform and Consumer Protection Act) which contained a very late revision by Senator ("Harkin Amendment") which exempted altered record annuities from regulation by the SEC and left these items to be controlled by the state protection offices.

In mid 2010, reports surfaced that Old Mutual had put the U.S. protection operations for sale. On April 6, 2011, Old Mutual reported the fulfillment of offer of its life and annuity business to the Harbinger Group. Harbinger communicated its goal to utilize income from the organization to store future acquisitions for the conglomerate. Harbinger delegated Lee Launer, a previous senior official of MetLife to run the organization as CEO. Around then, "OM Financial Life Insurance Company" changed its name back to "Constancy and Guaranty Life Insurance Company". In August, 2013, Fidelity and Guaranty Life documented Form S-1 with the U.S. Securities and Exchange Commission communicating its goal to finish a beginning open value offering. The organization as of now composes different sorts of altered annuities and disaster protection items. As of now, the biggest product offering is altered filed annuity (FIA). In date-book year 2012, FIAs created around 95% of aggregate deals. See Annuity (US budgetary items) and Indexed annuity for depiction of these items. The organization's National Association of Insurance Commissioners (NAIC) number is 63274.

In 2013, the organization reported a move of its central command to Des Moines, Iowa, refering to a lower expense of business and a longing to work under a comparable controller as adversary companies. The organization propelled a first sale of stock in late 2013 In October, 2014, the organization contracted Chris Littlefield, previous CEO of Aviva USA, as President of the company. The organization accordingly selected him CEO in April, 2014.Business Approaches are offered in each state and the District of Columbia; be that as it may, in New York, items are offered through a completely claimed backup, Fidelity and Guaranty Life Insurance Company of New York.

In 2012, most of the organization's immediate premiums and annuity thought business was composed in the conditions of California (13.15%), Georgia (10.89%), Texas (8.81%), Florida (8.74%), Pennsylvania (6.07%), Michigan (5.62%), Arizona (5.41%), New Jersey (3.91%), Ohio (3.45%), Illinois (3.36%), North Carolina (3.03%), Missouri (1.97%), Tennessee (1.85%), Wisconsin (1.77%), and Indiana (1.61%). Complete works of $2,199,063,661 from these 15 states represent 79.6% of the aggregate direct premiums and annuity thought business composed amid 2012. The organization concentrates on the offer of individual extra security items and annuities, which incorporate conceded annuities (altered recorded and settled rate annuities) and quick annuities essentially sold through free protection showcasing associations (IMOs) that thusly speak to autonomous specialists. The significant classes of direct premiums and annuity contemplations composed amid 2012 were singular annuities (78.5%) and all inclusive life coverage (21.4%).

From a statutory reporting point of view, the aggregate balanced statutory capital of Fidelity and Guaranty Life Insurance Company was $949 million and $870 million at December 31, 2012 and December 31, 2011, individually. Loyalty and Guaranty Life had statutory net pay of $102 million and statutory net wage of $110 million for the years finished December 31, 2012 and December 31, 2011, separately. As of December 31, 2012, the organization had more than $85 billion of protection in power with over $16 billion in resources . The organization is a completely possessed backup of the venture firm Harbinger Group.

A.M. Best rates the organization and its auxiliaries in the 'Great' class of B++; Fitch Ratings keeps up a BBB rating; and Moody's Investors Service holds the organization at a Ba1 (sufficient) position, and Standard and Poor's rates the organization at BBB-.

Corporate

FGL has under 200 direct representatives, depending for the most part on free specialists.